One Inc, the digital payments network for the insurance sector, has teamed up with JPMorgan Payments to enable property and casualty (P&C) insurance carriers to enhance the claims payments experience for customers.
With this partnership, carriers will be able to leverage JPMorgan’s liquidity and payments capabilities, which are now integrated into One Inc’s digital claims payout platform.
The payments network provider, One Inc, says its JPMorgan partnership will further digitise and deepen the claims experience for customers of P&C insurers.
One Inc & JPMorgan: Simplifying the claims experience
Per the deal, the insurance expertise of both organisations will be merged – positioning carriers to offer end-to-end solutions for a broad range of P&C claims payments needs.
Notably, the deal will help One Inc expand its ClaimsPay solution – giving insurers more claims payments capabilities while helping them accelerate revenue generation and reduce organisational costs.
Moreover, the partnership will help deliver instant digital payments to claimants – a process that has traditionally been dominated by checks on payouts, slowing down the delivery of funds to claimants.
One Inc CEO Ian Drysdale says: "We are excited to embark on this journey with JPMorgan, a financial institution renowned for its commitment to innovation and client service.
"This strategic partnership underscores our shared vision of providing cutting-edge solutions that address the evolving needs of the P&C insurance industry.
“Together, we will set new standards for modern and often instant insurance claims payments, benefitting insurers and policyholders alike."
Now that JPMorgan’s payment capabilities have been integrated with One Inc, it is expected that One Inc will soon be added to JPMorgan’s Payments Partner Network.
Jason Tide, Global Head of Corporate Development & Partnerships at JPMorgan Payments, adds: "The insurance vertical has very complex and unique requirements to drive further digitisation in the industry, and as such, we are excited to partner with a leading vertical fintech solution like One Inc to unlock new capabilities for joint P&C insurance clients.”
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